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Nov 23, 2012
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>> the same composition of congress existed before the election is what we have after the election. nothing happened before then. i'm just repeating what lawmakers said. chris van howen, representative out of maryland, said if nothing is done before they go on summer recess, you have to suspect nothing can get done by the end of the year. everybody is concentrating on this december 31st deadline. actually december 14th is the final day for congress. they can work through the holidays to try to get this deal done. we're looking at $600 billion according to the cbo and if you really want to look at all of 2013, you are looking at $800 billion to $900 billion. it is hard to imagine they could come to terms with everything that needs to be taken care of in just a few weeks from now. >> what happens to the markets if we miss that deadline, todd? >> they're going lower. look at federal spending. >> how much lower? >> at least 10%. this country's destined for a recession as it is. now if you take a look at the fiscal cliff mess, plus you look at spending cuts on the government's side, that
>> the same composition of congress existed before the election is what we have after the election. nothing happened before then. i'm just repeating what lawmakers said. chris van howen, representative out of maryland, said if nothing is done before they go on summer recess, you have to suspect nothing can get done by the end of the year. everybody is concentrating on this december 31st deadline. actually december 14th is the final day for congress. they can work through the holidays to...
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Nov 28, 2012
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>> look, i have voted for all of the above and i did it when i was running for re-election. it wasn't a political thing with me. i believe deeply that we got to get the country back on track. we're borrowing 31 cents of every dollar that we spend. clearly that's not sustainable. we know that our debt is now over 100% of our gross domestic product and headed higher. so we know steps have to be taken. the fastest growing part of federal spending are the health care accounts. we're spending 1 in every $6 in this economy on health care. >> the specific way to cut that, what is it? >> my number one recommendation -- >> yeah. >> -- would be better coordination of care for the chronically ill. 5% of medicare beneficiaries -- 5% -- use 50% of the money. >> mostly end of life care. right. >> a lot of it end of life care but a lot of it is not end of life care. it is for the chronically ill. people with multiple serious conditions. we do a very poor job of coordinating the care for those people. as a result, a lot of money is wasted. >> one final question quickly on farm subsidies. wh
>> look, i have voted for all of the above and i did it when i was running for re-election. it wasn't a political thing with me. i believe deeply that we got to get the country back on track. we're borrowing 31 cents of every dollar that we spend. clearly that's not sustainable. we know that our debt is now over 100% of our gross domestic product and headed higher. so we know steps have to be taken. the fastest growing part of federal spending are the health care accounts. we're spending...
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Nov 28, 2012
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>> that's what washington leaders are elected to do, to lead and govern. i think that's why the private sector is speaking out this way, because this is an issue that we have to educate the public, and we have to press our leaders to address. >> we had a representative on yesterday, democratic representative. he didn't even want to talk about means testing medicare or social security. very focused on raising taxes on the rich. if you have a millionaire or billionaire elderly person, and you tell them, guess what, you're going to have to pay more for your health care, that would be like raising their taxes, right? and it would help reduce the problem. but they don't want to talk about that. >> the easiest solution's in front of us. i'm not the expert on medicare or social security. means testing and raising age limits seem to me to be pretty practical solutions as part of the solution, not the total solution, to reducing entitlement spending. >> if you were this the white house today with with the president as many of the nation's leading ceos are, what wou
>> that's what washington leaders are elected to do, to lead and govern. i think that's why the private sector is speaking out this way, because this is an issue that we have to educate the public, and we have to press our leaders to address. >> we had a representative on yesterday, democratic representative. he didn't even want to talk about means testing medicare or social security. very focused on raising taxes on the rich. if you have a millionaire or billionaire elderly person,...
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Nov 27, 2012
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the political reason is we had an election. the american people decided tax rates were going to go up for the top 2% of income earners. the republicans tried the alternative approach, they didn't win. move on. the fife is off -- the philosophical approach, we tried under the bush economy and it didn't help. >> sure it did. >> every single republican under the clinton administration, the economy took off and created 22 million new jobs. don't tell me tax increases will ruin the economy. warren buffett wrote an op-ed, it's a lame outdated discredited argument from the gop. stop repeating the talking points. >> larry elder, i'll give you the last word. >> may i respond. the clinton income tax hikes underproduced revenue based upon their projections. they got in less money than they thought. when clinton lowered capital gains they got in far more revenue than they thought. cutting taxes is expansionary and raising taxes is contractionary. >> this discussion still comes down to spending. >>> a man in washington who has never wavered
the political reason is we had an election. the american people decided tax rates were going to go up for the top 2% of income earners. the republicans tried the alternative approach, they didn't win. move on. the fife is off -- the philosophical approach, we tried under the bush economy and it didn't help. >> sure it did. >> every single republican under the clinton administration, the economy took off and created 22 million new jobs. don't tell me tax increases will ruin the...
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Nov 23, 2012
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out to certain people who were skeptical of the decline in the unemployment rate leading up to the election -- let's shovel out more unemployment. i'm excited. woo! >> if the potential growth rate is 2.5 -- >> is this what we're looking at next month? have you already had the secret meeting? >> i wasn't on the call for that one. my point is that there was enough growth in the third quarter to bring down the unemployment rate. >> if that's the growth that makes you and the world happy, you'll be happy for ten years. >> when you have growth above potential it's sufficient to bring down the unemployment rate. maybe the decline of the unemployment rate was actually for real. >> i'm one of those people -- >> you're not going to convince me. >> i was one of those people skeptical about the last unemployment number that we saw. that makes this unemployment number so much more important as you say. if all those things line up and we're talking about some pretty big ifs, i'll be ready to buy the stock market if we get good gdp number and solid unemployment number, that hasn't happened yet. >> there'
out to certain people who were skeptical of the decline in the unemployment rate leading up to the election -- let's shovel out more unemployment. i'm excited. woo! >> if the potential growth rate is 2.5 -- >> is this what we're looking at next month? have you already had the secret meeting? >> i wasn't on the call for that one. my point is that there was enough growth in the third quarter to bring down the unemployment rate. >> if that's the growth that makes you and...
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Nov 27, 2012
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presidential election. now we come to the cliff. if we get a deal done, this market needs a catalyst, david. that can be the catalyst forward because buyers frankly are in a wait and see mode and they have been. there's not been a lot of risk to not acting. in fact, the risk har to action. despite the fact that the fundamentals have been for the last couple years the best fundamentals we've ever seen. >> investors reacted positive to deals including today. back to the fiscal cliff. all right. let's say we get a resolution. right away, m&a activity heats up. take me how it will help. >> i think in the first quarter following a deal you will see a resurgence but it won't be dramatic. but that activity will cause buyers to believe there's finally risk to not acting. what we need is a consequence to inaction. that will be deals that will be announced in the quarter following the cliff, which i absolutely believe they will be. we've got deals on the shelf that are waiting for this kind of activity. those deals move into the market. senti
presidential election. now we come to the cliff. if we get a deal done, this market needs a catalyst, david. that can be the catalyst forward because buyers frankly are in a wait and see mode and they have been. there's not been a lot of risk to not acting. in fact, the risk har to action. despite the fact that the fundamentals have been for the last couple years the best fundamentals we've ever seen. >> investors reacted positive to deals including today. back to the fiscal cliff. all...
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Nov 29, 2012
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plus we had the election and fiscal cliff oncoming. with that, we still got over 2% growth. so even with some kind of drag from higher taxes and spending into next year, without a lot of those -- those severe head winds, you know, i just don't see how with a global -- coordinated global monetary easing policy from the central banks, how you're going to have a worser economy next year and therefore lower profits. >> joe? or josh? >> hi, tony. josh brown. i'm just curious, if you took a look at that gdp third quarter revision from this morning, one of the things i think jumped out most is that really all of the improvement comes as a result of both federal spending and then the other thing -- then the other thing that people don't want to see which is a lot of inventory restocking which i understand is seasonal. but now that's on the backs of the consumers, actually, taking those products out of stores to their homes. are we really going to be able to say that that was a good upward revision? even though the number went up? >> no. frankly, the market would have already priced
plus we had the election and fiscal cliff oncoming. with that, we still got over 2% growth. so even with some kind of drag from higher taxes and spending into next year, without a lot of those -- those severe head winds, you know, i just don't see how with a global -- coordinated global monetary easing policy from the central banks, how you're going to have a worser economy next year and therefore lower profits. >> joe? or josh? >> hi, tony. josh brown. i'm just curious, if you took...
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Nov 21, 2012
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paul bremer turned over authority to the interim iraqi government, which would run the country until elections could be held. [gunfire] >> the insurgency was already gaining momentum. and with the, then newly constituted iraqi army riding into battle in unarmored pickup trucks, and scrounging for guns and ammunition, the iraqi defense ministry went on a billion dollar buying spree with almost no oversight. the contracts were paid in advance with no guarantees, and most of them involved a single company. >> there were awarded without any bidding to a company that was established a few months prior with a total capital of $2,000. so you had nearly a billion dollars worth of contracts awarded to a company that was just a paper company whose directors had nothing to do with the ministry of defense or the government of iraq. >> the name of that company was alain al jaria, which in arabic means the ever-flowing spring. it's address, here in amman, jordan was a post office box. it's telephone number, a mobile phone. the principal was a mysterious iraqi by the name of naer jumaili. and a half a billio
paul bremer turned over authority to the interim iraqi government, which would run the country until elections could be held. [gunfire] >> the insurgency was already gaining momentum. and with the, then newly constituted iraqi army riding into battle in unarmored pickup trucks, and scrounging for guns and ammunition, the iraqi defense ministry went on a billion dollar buying spree with almost no oversight. the contracts were paid in advance with no guarantees, and most of them involved a...
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Nov 26, 2012
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i was just elected. i made aware the only thing i'm honoring is the oath i take when i'm sworn in this january. >> both of these senators are saying they aren't going to be browned by grover norquist from americans for tax reform. this is an issue bigger than norquist. the republican party has positioned itself as the smaller government, anti-tax party. but they've lost an election and it appears that republicans in the senate will see about the house, already to give some ground. >> john, thank you. that's good news. looks like at least some may be ready to rise above the partisan rhetoric. we'll find out. >>> welcome back here. again if you are just joining us, we're at the lincoln financial field in philly, the third best city in the stock market in the last year. another guy that has a brand-new job but is well known to cnbc viewers, bob doll. he's just been announced as chief equity strategist for nuvene asset management. and ken volpert of vanguard based pretty darn close. bob, this is your first i
i was just elected. i made aware the only thing i'm honoring is the oath i take when i'm sworn in this january. >> both of these senators are saying they aren't going to be browned by grover norquist from americans for tax reform. this is an issue bigger than norquist. the republican party has positioned itself as the smaller government, anti-tax party. but they've lost an election and it appears that republicans in the senate will see about the house, already to give some ground....
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Nov 29, 2012
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. >> reporter: he's been elected county commissioner and he owns a famous brothel. the mustang ranch. you have to be the most diversified businessman in america. wouldn't you say? >> i have a diversified portfolio. >> reporter: gillman is a republican in a state represented by one of america's most powerful democrats, harry reid. >> he's been a friend to the state of nevada. so certainly i supported his campaigns. >> reporter: but he doesn't agree with reid on everything and he's worried about the fiscal cliff in a region recovering more slowly than the rest of the nation. >> to me, our world is tied to confidence. confidence in our leaders, confidence in washington. confidence in taxes. trying to figure out what's going to happen with all the health care. and we are absolutely crushed with regulation. this is where the buck stops. all of the rules that are made back there. all the regulations that are made back there. all the financial decisions, they all flow right down here to where you and i are standing. and if companies aren't calling and if they aren't expand
. >> reporter: he's been elected county commissioner and he owns a famous brothel. the mustang ranch. you have to be the most diversified businessman in america. wouldn't you say? >> i have a diversified portfolio. >> reporter: gillman is a republican in a state represented by one of america's most powerful democrats, harry reid. >> he's been a friend to the state of nevada. so certainly i supported his campaigns. >> reporter: but he doesn't agree with reid on...
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Nov 27, 2012
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we as the american public are fools if we would elect, re-elect anybody that sat there and watched this thing go over the cliff. the bigger issue, we are in a slow growth/no growth economy, even after we solve that what are we going to do too move this economy forward? >> what are you advising your clients to do with their money? >> one, a little bit on the conservative side, a normal account would be 50% stocks, 50% bonds, we may be about 40/60, i'm very concerned about the bond market at this point over time. >> treasury, corporates. >> wither in corps pratt, also in some alternative oriented things. secondly, i think we are in a market it makes sense to produce income. if the dow at 13, 14,000 now and 13, 14,000 in three years which could be the situation in a muddling along economy what interest in dividends you produced that period of time. if you believe this isn't going to be a high-growth economy, it leads to you producing it quickly and evenly. >> we got to get to eamonoffers in d.c. the higher tax rate you. >> where are you going to go? >> the dividends is misplaced because yo
we as the american public are fools if we would elect, re-elect anybody that sat there and watched this thing go over the cliff. the bigger issue, we are in a slow growth/no growth economy, even after we solve that what are we going to do too move this economy forward? >> what are you advising your clients to do with their money? >> one, a little bit on the conservative side, a normal account would be 50% stocks, 50% bonds, we may be about 40/60, i'm very concerned about the bond...
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Nov 27, 2012
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ever since the election it has pulled back along with the rest of the market to the point where it's now almost back to where it was before the announcement. it's time to buy, people. bottom line, you want a real cyber monday deal, go buy yourself -- >> buy, buy, buy. >> -- some federal express. robert in illinois. robert? yo, robert? >> caller: praying for the eagles tonight. >> yeah. we need divine intervention. good you pointed that out. what's up? >> caller: electronic gear this holiday season, and i think this stock has a lot of upside due to the increased volume of sales at this time of year. the stock is skul. >> i felt it's too much of a commodity. i don't like stuff that's sold in those particular stores that they're there. i've been recommending the sale of skullcandy, around since 14, 15. the stock did go up to 16, made me look bad momentarily. i stuck by my guns. i still think you should sell skullcandy. fernando in california. fernando? >> caller: [ inaudible ]. >> okie doke. >> caller: coming into the fourth quarter for holiday season with all the names it picked up. >>
ever since the election it has pulled back along with the rest of the market to the point where it's now almost back to where it was before the announcement. it's time to buy, people. bottom line, you want a real cyber monday deal, go buy yourself -- >> buy, buy, buy. >> -- some federal express. robert in illinois. robert? yo, robert? >> caller: praying for the eagles tonight. >> yeah. we need divine intervention. good you pointed that out. what's up? >> caller:...
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Nov 29, 2012
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it's very hard to quantify sandy and the elections overall. macys said we had a record black friday, but it wasn't enough to overcome the effects of sandy. no longer will nordstrom do monthly sales. less than 20% of retailers now report monthly sales. it's really hard to gauge anything based on these retail sales number. you know the whole world was up? europe was up to a new high. boy were the bulls wrong on this. i was part of it unfortunately. in september and october, we were all bullish on china. a big restructuring, nothing's happened. that's why the market is drifting lower, concerns about bank capitalization rates, this calls for big buy backs on the main land. the grandfathers in shanghai who trade in that market are not trading as much, they're not as interested. every list i have seen is cash a percentage of market cap. usually it's about 7% and above. i see ray theon has a really good one. o'reilly automotive was another good one. >> thank you, bob. >> shadow inventory, that's down, copper developing, you can't get the copper. a lo
it's very hard to quantify sandy and the elections overall. macys said we had a record black friday, but it wasn't enough to overcome the effects of sandy. no longer will nordstrom do monthly sales. less than 20% of retailers now report monthly sales. it's really hard to gauge anything based on these retail sales number. you know the whole world was up? europe was up to a new high. boy were the bulls wrong on this. i was part of it unfortunately. in september and october, we were all bullish on...
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Nov 26, 2012
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that's what we elected them to do. let's talk about the fiscal cliff, solve this problem, move on to the next one, solve this problem involves higher taxes for some americans. >> but you know perfectly well, rick, the only rev lleverage yoe right now in order to cut spending is the tax issue. if you separate them, you raise taxes. when do you think spending cuts are ever going to come? you really believe they'll do it? >> i absolutely believe. i've been fortunate enough to spend time with the administration. i believe this administration spends there are spending problems and they want to address them. i believe they're willing to sit down and put everything on the table. i think we have to stop this mrilg gamesmanship -- >> they said they're taking social security off the table. they just said that. >> as far as the fiscal cliff goes. what they want us to say is we agree to higher taxes today for the promise of looking at spending in the future. i mean, come on. this is never going to happen unless we cut spending now
that's what we elected them to do. let's talk about the fiscal cliff, solve this problem, move on to the next one, solve this problem involves higher taxes for some americans. >> but you know perfectly well, rick, the only rev lleverage yoe right now in order to cut spending is the tax issue. if you separate them, you raise taxes. when do you think spending cuts are ever going to come? you really believe they'll do it? >> i absolutely believe. i've been fortunate enough to spend...
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Nov 23, 2012
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obviously you weren't a big fan of the way the election turned out. i like being a strict constitutionalist, and i like article i, section 8. are we ever going to get back to those types of disciplines, or as in your article stated, you think we crossed over and there's no turning back? >> no, we passed the tipping point. i don't think there's any doubt we reached the tipping point. we've reached that era where our foundest most feared where a majority of people could voice themselves a living at the spend of the minority. i don't think there's any coming back. i think we are on the same trajectory as europe, and europe is on the same trajectory as greece, so it's time to look for yourself and families to take care of your personal prone. we cannot solve the country's problems. >> i hope you are not kreb8g9, but we'll have you back to talk about the journey. sully, it's all yours. >> thank you. >>> rick and bill, thank you. i like bill. he's a smart guy. >> good conversation. >>> coming up next, protesters at walmart. we have live at the scene. 6 try
obviously you weren't a big fan of the way the election turned out. i like being a strict constitutionalist, and i like article i, section 8. are we ever going to get back to those types of disciplines, or as in your article stated, you think we crossed over and there's no turning back? >> no, we passed the tipping point. i don't think there's any doubt we reached the tipping point. we've reached that era where our foundest most feared where a majority of people could voice themselves a...
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Nov 26, 2012
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in the catolca catalonia win the regional elections. the stock market reacted a little bit, it would have been worse if the leader of the separatist movement had done better. let's move on to what i think is the most interesting story and could definitely affect a lot of investors who watch cnbc, argentina. during all the retail hubaloo, a federal judge in new york ordered argentina to pay nml securities $1.5 billion. he has ordered this many times before. what is different is the remedy. there are two things that investors need to know. if you are invested in an emerging market hedge fund you should be worried about whether or not argentina will pay a gdp warrant december 15th. they very well may not and most indexes when it comes to the emerging markets contain argentinean debt. is it going to be systemic if they don't pay it? no, but you could be affected. the second thing is the remedy that the judge has imposed. this is very interesting. he knows argentina will never pay so now what he said is i don't care if argentina doesn't pay.
in the catolca catalonia win the regional elections. the stock market reacted a little bit, it would have been worse if the leader of the separatist movement had done better. let's move on to what i think is the most interesting story and could definitely affect a lot of investors who watch cnbc, argentina. during all the retail hubaloo, a federal judge in new york ordered argentina to pay nml securities $1.5 billion. he has ordered this many times before. what is different is the remedy. there...
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Nov 21, 2012
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obviously it depends on what you were hoping for in the election and what that mix all looks like. but i'm expecting optimism to fall. and, of course, we'll have no more resolution on taxes or any of those things because it's too soon really to get those done. but, you know, 75% of these small businesses out there are paying their taxes on the personal schedule. they're worrying about that, want to know how to calculate after tax returns on hiring or investment when you don't know what the tax rate's going to be. >> we wish you a happy thanksgiving. >> well, same to all of you. thank you very much. >> see you soon. >>> when we come back, we have a "squawk" tradition. joe has a list of questions ready to go for the butter ball turkey. that's here on "squawk." americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retir
obviously it depends on what you were hoping for in the election and what that mix all looks like. but i'm expecting optimism to fall. and, of course, we'll have no more resolution on taxes or any of those things because it's too soon really to get those done. but, you know, 75% of these small businesses out there are paying their taxes on the personal schedule. they're worrying about that, want to know how to calculate after tax returns on hiring or investment when you don't know what the tax...
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Nov 21, 2012
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you've had a hit here in the correction after the election. and you've got some of these things, they were just mentioned by some of the participants in the fast money group. i would you know, focus on pharmaceuticals. technology. and there are opportunities in higher yield instruments, too. where you're treated very generously, assuming we stay out of the a recession. >> why doesn't anybody like retail around here? the consumer has not shown fiscal cliff effects yet. we have wages are up. the next segment, i'm going to do that holiday check-up in the next hour and the numbers going in, does anybody remember this time last year going into christmas, the unemployment rate was 9%. home prices were falling. we have a 7.9% unemployment rate. still too high, but better and wages and housing prices are up. it was 63 this time last year. >> are we underestimating the consumer? >> i think you are, frankly. i think the consumer is poised to go out and spend money in christmas and not worry about fiscal cliff because the fiscal cliff isn't going to calm
you've had a hit here in the correction after the election. and you've got some of these things, they were just mentioned by some of the participants in the fast money group. i would you know, focus on pharmaceuticals. technology. and there are opportunities in higher yield instruments, too. where you're treated very generously, assuming we stay out of the a recession. >> why doesn't anybody like retail around here? the consumer has not shown fiscal cliff effects yet. we have wages are...
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Nov 27, 2012
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and christie is getting his re-election campaign ramped up. he has unprecedentedly high approval rating. >> after sandy. and he says this is a job he feels leak he needs to continue. >> stanley wants him to stay. some other corporate news involving erickson. it's filed a lawsuit against samsung alleging patent infringement. ericcson says two years to trike a deal were unsuccessful. and an hp shareholder filed a lawsuit alleging the tech company's top executives misled investors about two key acquisitions that have caused billions of dollars in losses. the lawsuit alleges that hp management concealed the problems and another recent acquisition which we've talked about, electronic data, in an attempt to boost hp stock price. meantime in the "wall street journal," former employees, business partners and attorney attorneys say it's not difficult to conclude that the company autonomy's accounting was overly aggressive, they say such behavior tip filed autonomy long before hp bought it. and mike lynch says the company's culture was aggressive. >> th
and christie is getting his re-election campaign ramped up. he has unprecedentedly high approval rating. >> after sandy. and he says this is a job he feels leak he needs to continue. >> stanley wants him to stay. some other corporate news involving erickson. it's filed a lawsuit against samsung alleging patent infringement. ericcson says two years to trike a deal were unsuccessful. and an hp shareholder filed a lawsuit alleging the tech company's top executives misled investors...
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Nov 26, 2012
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now that the election is over, we're here with mark. we're going to give all your information later, but if i say your name and company, people are going to know where we are. we're not going to give that. you run a marketing company and a branding firm. how has your business gone now that the election is over and as we head toward the fiscal cliff? >> well, our business has been robust and continues to be robust. so far, it hasn't been impacted at all. we're actually looking forward to a pretty good 2013. >> are your clients saying, hey, mark, i want to give you more business, but i'm worried about this fiscal cliff thing. i'm worried about taxes, worried about the economy. are you hearing that at all? >> well, we haven't heard specifically from our clients. and we handle a lot of global brand brands. but i have heard it from other ceos in the region. they're tapping the brakes and not investing to the degree they would have. >> the big companies would hire you to do branding and marketing for them, but do you have to -- are you planni
now that the election is over, we're here with mark. we're going to give all your information later, but if i say your name and company, people are going to know where we are. we're not going to give that. you run a marketing company and a branding firm. how has your business gone now that the election is over and as we head toward the fiscal cliff? >> well, our business has been robust and continues to be robust. so far, it hasn't been impacted at all. we're actually looking forward to a...
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Nov 21, 2012
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i think our elected officials understand that. i think the president understands it. and fortunately, i guess in an odd way the downside is so great they have to come up with a solution? >> how about if they don't? how would it be for your business? >> i think it is going to have an impact on the business only due to uncertainty. but i think there is a lot of positive influences in the consumers' minds right now. the fact that affordability is better. the fact that they feel better about their jobs. the fact this they see job growth happening. certainly here in california we've had job growth. so i think in our world in southern california we're going to be in pretty good shape. but uncertainty is never good. i don't think there should be an option. >> mr. caruso, yesterday craig barrett, former ceo of intel, described california where you live and do a lot of business as america's version of greece because of the level of public expenditure and so forth. do you see it that way? >> no, i don't see it that way. listen, california has its issues. locally we have our iss
i think our elected officials understand that. i think the president understands it. and fortunately, i guess in an odd way the downside is so great they have to come up with a solution? >> how about if they don't? how would it be for your business? >> i think it is going to have an impact on the business only due to uncertainty. but i think there is a lot of positive influences in the consumers' minds right now. the fact that affordability is better. the fact that they feel better...
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Nov 28, 2012
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we've got a house election in two years -- less than two years. >> although, i don't think this is about electoral politics right now. this is about -- this is about dollars and cents for specific interest groups, constituents, supporters of these politicians and their ideological views. so, look, it's not easy to do. and i believe at the end they'll do it, but this is part of the dance, you know, before it gets super intense. >> and you know what else it is? it's sausage being made and it's ugly to watch. but then -- and then i think about closing loopholes. and name your loophole, and i can give you a two-year argument. mortgage. oh, it's going to kill the housing industry, charity, we can talk for two years, what will it do to charity? >> universities and -- yes. >> you name any sacred cow. that's why it's sacred, it's a sacred cow. >> state and local tax deductions, oh, my god, what's that going to do to new york? >> is it easier to do the cap and that gives you the nebulous, well, we're not hurting anyone -- >> yes. >> would that work? >> yes. i mean, a lot of tax policy experts lik
we've got a house election in two years -- less than two years. >> although, i don't think this is about electoral politics right now. this is about -- this is about dollars and cents for specific interest groups, constituents, supporters of these politicians and their ideological views. so, look, it's not easy to do. and i believe at the end they'll do it, but this is part of the dance, you know, before it gets super intense. >> and you know what else it is? it's sausage being made...
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Nov 29, 2012
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it's their first meeting since the election. and this his victory speech, obama promised to engage with romney and consider his ideas. >> a lot of people didn't think the lunch would ever happen. >> interesting if he's going to be talking about ideas, mitt romney's idea had been to reach some sort of a cap on it 00 mem deductions. >> he would have just extended the bush tax cuts and then the other stuff would have been -- but if romney had been elected, whether bad long term to extend them, that's one thing, but he would have extended -- this is a weird argument to be having to have everything hinging on on the 2% that are -- suddenly as i've said before, suddenly everybody loves the bush tax cuts. so weird. >> flips the tables on who likes what. >> it all goes back to the line in the band. obama first time around caved and his base never for gave him for extending the bush tax cuts when he said he wouldn't. >> maybe the republicans should be reconsidering the tough line that they drew back in july of 2011 because this is a situ
it's their first meeting since the election. and this his victory speech, obama promised to engage with romney and consider his ideas. >> a lot of people didn't think the lunch would ever happen. >> interesting if he's going to be talking about ideas, mitt romney's idea had been to reach some sort of a cap on it 00 mem deductions. >> he would have just extended the bush tax cuts and then the other stuff would have been -- but if romney had been elected, whether bad long term...
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Nov 28, 2012
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of course, we have elections coming up. talking a lot about monetary easing so that has pushed the dollar down. but a pretty miserable picture today. >> thanks very much. president obama will continue his pr offensive today in his push to raise taxes on wealthy americans. congress remains at odds over a budget deal to avoid the fiscal cliff. markets were spooked yesterday when senate majority leader harry reid said little progress has been made. today the president speaks at about 11:30 eastern on how potential tax hikes will hurt the middle class. he'll then meet with a second group of ceos at quarter of 5:00 p.m. to get their input on how to solve the fiscal crisis. that group will include brian roberts, doug olberhaman and marisa meyer. james gorman has been enlisting the help of his employees in the fight over the fiscal cliff. "the wall street journal" reports that he asked the bank's more than 16,000 financial advisers to urge their congressmen to reach a bipartisan compromise on a budget deal. gorman says no issue is
of course, we have elections coming up. talking a lot about monetary easing so that has pushed the dollar down. but a pretty miserable picture today. >> thanks very much. president obama will continue his pr offensive today in his push to raise taxes on wealthy americans. congress remains at odds over a budget deal to avoid the fiscal cliff. markets were spooked yesterday when senate majority leader harry reid said little progress has been made. today the president speaks at about 11:30...
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Nov 28, 2012
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the senate said we'll see you after the election. we hoped this would have been settled a very long time ago. >> we are beginning to see senators at least bepd on long standing pledges that they signed with grover norquist. people skeptical about a deal say what really matters is the house. the house is not showing that same level of flexibility, call it whatever you want. is that fair? are republicans in the house -- you're from oklahoma. obviously a red state. are you as resolute as you have always been? >> i am. here's the issue. the tax rate has never been the solution. there's a couple things to keep in mind here. one is obama care taxes kick in january 1st. there are three aspects to that fiscal cliff. the third aspect is the obama care taxes that are coming. there's a 3.8% increase on capital gains, on dividends, interest income for people making 200,000 or more. that's already coming. that's baked in the cake. what the president wants is an additional tax increase rate increase on the same group of people he's already put a r
the senate said we'll see you after the election. we hoped this would have been settled a very long time ago. >> we are beginning to see senators at least bepd on long standing pledges that they signed with grover norquist. people skeptical about a deal say what really matters is the house. the house is not showing that same level of flexibility, call it whatever you want. is that fair? are republicans in the house -- you're from oklahoma. obviously a red state. are you as resolute as you...
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Nov 24, 2012
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he was elected in june with nearly 52% of the vote, but thousands are calling for his removal today as they stormed the headquarters of one of his chief support groups. the crowd then marched on to tahrir square, chanting birth of a new pharaoh. let's get the latest on this situation with ian lee in cairo tonight. what's the situation right now? >> reporter: well, tom, it's 2:00 a.m. now in cairo. and the protests are still going on. we're still seeing clashes in and around tahrir square between the protesters and the police. we're seeing a range of things thrown back and forth. rocks, we've seen molotov cocktails, we've seen tear gas. there are reports of police shooting into the air to scare off protesters. this is a very intense scene we've seen. we haven't seen anything like this really since a year ago when we saw clashes, when we saw dozens of people killed. this has really been the most intense set of clashes since then and all these protesters are angry about that power grab you were describing where president morsi really has no one overseeing him. the judiciary, he has pushed
he was elected in june with nearly 52% of the vote, but thousands are calling for his removal today as they stormed the headquarters of one of his chief support groups. the crowd then marched on to tahrir square, chanting birth of a new pharaoh. let's get the latest on this situation with ian lee in cairo tonight. what's the situation right now? >> reporter: well, tom, it's 2:00 a.m. now in cairo. and the protests are still going on. we're still seeing clashes in and around tahrir square...
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Nov 28, 2012
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remember back on election night the president talked about looking forward to sitting down with governor romney to talk about ways to move the country forward. this after a very tough campaign where either during the debates or out there on the campaign trail each of the candidates have had very strong words about each other's vision for the country. the president was asked about when he would be meeting with mitt romney during his news conference following the election. he said that he looked forward to sitting down and meeting with him, said there are some good ideas, some things of his record that he would like to talk to him about. when he was pressed on that the president said that he thought that mitt romney did a good job in turning the olympics around and he thought that could apply to the federal government to make it more efficient, to make it more customer friendly. people friendly. and so we expect that some of that will be part of the discussions when the president sits down with mitt romney here at the white house tomorrow. i think the timing of this is also quite interesti
remember back on election night the president talked about looking forward to sitting down with governor romney to talk about ways to move the country forward. this after a very tough campaign where either during the debates or out there on the campaign trail each of the candidates have had very strong words about each other's vision for the country. the president was asked about when he would be meeting with mitt romney during his news conference following the election. he said that he looked...
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Nov 24, 2012
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he resigned wednesday just two weeks after winning re-election citing on going mental health problems. he's also being investigated for possible misuse of campaign funds by the fbi. and for the first time he acknowledged that saying he will accept responsibility for his mistakes. >> number three, gas rationing in new york city will end today. that's according to mayor michael bloomberg. the city has been rationing gas by odd and even days since november 9th. recovery from superstorm sandy is far from complete. more than 30,000 people are still without power in new york and new jersey. 30,000. and governor chris christie says the storm cause add estimated $29.4 billion in damage in new jersey. >> number four, someone may wake up a multimillionaire tomorrow. the powerball lottery jackpot is now a whopping $325 million. that is the fourth largest jackpot in the game's history. you have to buy a ticket before 10:00 p.m. eastern time tonight to be included in that drawing. >>> and veteran actor larry hagman has died. his family says it was comri can indications from cancer and that he was
he resigned wednesday just two weeks after winning re-election citing on going mental health problems. he's also being investigated for possible misuse of campaign funds by the fbi. and for the first time he acknowledged that saying he will accept responsibility for his mistakes. >> number three, gas rationing in new york city will end today. that's according to mayor michael bloomberg. the city has been rationing gas by odd and even days since november 9th. recovery from superstorm sandy...
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Nov 24, 2012
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i think what we need to remember, what came out of this election, the clear mandate of this election was two things. number one, for our leaders to come together in a bipartisan manner to put everything on the table, to find real solutions. number two, that the majority of americans agreed with president obama's vision of one of the ways to fix the fiscal cliff had to be to put new revees and to raise the tax rates of the wealthiest americans. president obama won eight out of the ten wealthiest counties in this country in this election, randi, which means even the wealthiest understand they have to put some skin in the game. so i think that going into this, i applaud senator chambliss, because that tax pledge i think should go the way of the dodo bird, because once you box yourself in, you are not leaving yourself open to some real solutions. americans want real solutions. >> well, i'm not trying to dump coal in your holiday stocking, but when you look at this spa s situation, should we really expect a lame duck congress to fix a problem that we have been staring at for years? >> the
i think what we need to remember, what came out of this election, the clear mandate of this election was two things. number one, for our leaders to come together in a bipartisan manner to put everything on the table, to find real solutions. number two, that the majority of americans agreed with president obama's vision of one of the ways to fix the fiscal cliff had to be to put new revees and to raise the tax rates of the wealthiest americans. president obama won eight out of the ten wealthiest...
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Nov 22, 2012
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it was a free election. they should respect their choice as a people they are going to present the palestinian people. if it is a terrorist organization it doesn't mean that all the palestinian people are terrorists. ip the last 8 days it was like the bloody war. i have an image in her mind you shouldn't be scared of it. i don't know how i can teach her the meaning of life to be a normal kid to live under peaceful time while she is growing up under attack. >> what i get from talking to both of you is when you cut away from the toll ticks and military wings from both sides what you are left with are real people living in difficult situations is the most important thing is that the cease fire holds and the people that responsibility for these things are that the people get together and bring to you a better life. i thank you very much for joining me tonight. thank you. >> thank you. >> thank you. >> with me now is ed hussain. he is the author of "the islamist". i found that a fascinateing discussion there. >>
it was a free election. they should respect their choice as a people they are going to present the palestinian people. if it is a terrorist organization it doesn't mean that all the palestinian people are terrorists. ip the last 8 days it was like the bloody war. i have an image in her mind you shouldn't be scared of it. i don't know how i can teach her the meaning of life to be a normal kid to live under peaceful time while she is growing up under attack. >> what i get from talking to...
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Nov 29, 2012
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the election, popular opinion and more give president obama a lot of clout right now. and you can agree or disagree with the president's policy. that's for you to decide. republican congressmen tom cole of oklahoma disagrees stronsly. at the same time, he recognizes the political reality that all tax cuts will expire on january 1st and no one wants to raise taxes on what would amount to 98% of all taxpayers. >> in my view, we all agree that we're not going to raise taxes on people that make less than $250,000. we should just take them out of discussion right now. continue to fight against any rate increases, continue to try to work honestly for a much bigger deal. >> congressman cole joins us shortly. a rock rib conservative. chair of the national republican congressional committee, and he's no longer a lone voice in the wilderness. the staunchly conservative editorial page of "the wall street journal" is on board as well. i'm quoting now. the fact is that republicans face a new political reality on taxes. president obama's re-election means that taxes for upper income
the election, popular opinion and more give president obama a lot of clout right now. and you can agree or disagree with the president's policy. that's for you to decide. republican congressmen tom cole of oklahoma disagrees stronsly. at the same time, he recognizes the political reality that all tax cuts will expire on january 1st and no one wants to raise taxes on what would amount to 98% of all taxpayers. >> in my view, we all agree that we're not going to raise taxes on people that...
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Nov 26, 2012
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the dow closing above 13,000 for the first time since the election. this week, the focus turns back to the u.s. economy now the fiscal cliff talks are looking more promising and the election is behind us. new reports this week on the housing market, manufacturing sector and consumer data. also the second estimate for third quarter gdp comes out on thursday. the broadest gauge of the health of the economy and economists think that number is going to show better growth than we saw, 2.8% down from 2.2% that they had thought earlier. the fiscal cliff being, you know, something that really helped the stock market last week. >> i would imagine. >> don't screw up. >> please, congress, don't mess this up. let's take a live look this morning at the capitol dome where congress is back to work this week. s fiscal cliff staring them in the face. 35 days, we go right over that cliff or right down that slide or whatever the metaphor is we're using today. politicians on both sides of the aisle are now signaling that they're willing to compromise. that includes repub
the dow closing above 13,000 for the first time since the election. this week, the focus turns back to the u.s. economy now the fiscal cliff talks are looking more promising and the election is behind us. new reports this week on the housing market, manufacturing sector and consumer data. also the second estimate for third quarter gdp comes out on thursday. the broadest gauge of the health of the economy and economists think that number is going to show better growth than we saw, 2.8% down from...
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Nov 21, 2012
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and then in a few hours she'll meet with the newly-elected president mohamed morsi. this just underscores the urgency of peace talks here in the region. the israeli air attacks killing 27 more palestinians bringing the death toll to 137. a spokesperson for hamas sounding hopeful. an end to the violence is near telling cnn, quote, we are close, we are on the edge, end quote. i want to bring in dan, a former israeli officer and now a scholar at the center for middle eastern policy. good morning to you. >> good morning. >> let me just begin on what your reaction is on what appears to be a level of new violence in tel aviv. could this be a game-changer? >> well, this is a very serious development, i think. and whether it is a game-changer or not, we'll have to see. i think that up to now while a cease-fire, the parties feel that a cease-fire is within reach, they were scrambling to achieve last-minute gains, strategic and public imagewise before a cease-fire comes into effect. i think that this bus explosion is sort of a decisive image that hamas has been trying to achie
and then in a few hours she'll meet with the newly-elected president mohamed morsi. this just underscores the urgency of peace talks here in the region. the israeli air attacks killing 27 more palestinians bringing the death toll to 137. a spokesperson for hamas sounding hopeful. an end to the violence is near telling cnn, quote, we are close, we are on the edge, end quote. i want to bring in dan, a former israeli officer and now a scholar at the center for middle eastern policy. good morning...
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Nov 25, 2012
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the republican party, they're still unhappy about losing the election of 2012, many are still unhappy with president obama's presidency and that's where you're seeing the temper t tantrum. the anger and the vitriol against her seems incon grew is with what she actually did in an article about rice's potential to succeed clinton, he wrote while news came hour behalf she touched down in the region, the sequence of events is the vivid reminder of the statute clinton has gained in the job. she's been obama's go-to gal in any crisis. she's been given international praise for much of her work over the last four years but with her departure looming how much will they have replacing her and what will that transition look like? >> i think it will be a difficult transition. you have so many dirchltd things going on. i don't think it's possible to fill hillary clinton's shoes. i don't think there's anyone in the current administration who can match her. i think what barack obama is doing is trying to find somebody who matches his philosophy and that right now is susan rise. >> and there's no cha
the republican party, they're still unhappy about losing the election of 2012, many are still unhappy with president obama's presidency and that's where you're seeing the temper t tantrum. the anger and the vitriol against her seems incon grew is with what she actually did in an article about rice's potential to succeed clinton, he wrote while news came hour behalf she touched down in the region, the sequence of events is the vivid reminder of the statute clinton has gained in the job. she's...
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Nov 22, 2012
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you think the election is over. there are a lot of things can you argue about. a lot of victories can you score. but getting rid of obama care is something tabled in the he leshgs, not put on the table. >> i think that's fair. there are two pieces to this debate. one thing that is a huge contradiction and problem for republicans is this. the thing that they campaigned on, get willing rid of the medicare savings in the obama care law, that's something that would actually make the deficit picture look a lot worse over the next ten years. that's obviously, you know, that cuts against this narrative. on the other nd, there are a lot of things about the obama care law that are going to be fiscal problems. for example, the law treats people who are on the exchanges really differently from it treats people who get insurance through the employers. so there are aot of those things that probably should be fixed but aren't going to yield big savings in the short term. as a matter of deficit negotiations, i think boehner is not on strong footing. >> interesting. there are a
you think the election is over. there are a lot of things can you argue about. a lot of victories can you score. but getting rid of obama care is something tabled in the he leshgs, not put on the table. >> i think that's fair. there are two pieces to this debate. one thing that is a huge contradiction and problem for republicans is this. the thing that they campaigned on, get willing rid of the medicare savings in the obama care law, that's something that would actually make the deficit...
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Nov 27, 2012
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during the election it wasn't about big issues. one issue was big and that was raising taxes on wealthy people, and people knew that's what president obama wanted to do. they new mitt romney didn't want to do it and voted for president obama. he has the authority of the election behind him, and that gives him a good hand here. >> david let me ask you about grover norquist. the man who authored the pledge that so many reps signed and mike lee was the latest to say there's a lot of ways to skin a cat and back off the pledge. grover spoke to soledad on cnn. here was his comment. >> if you want to go to your voters and say, i promised you this, and i'm breaking my promise, you can have that conversation with them. you don't have an argument to we. you made a commitment to voters. >> he says he will try to unseat people that go against the pledge? is this a real risk that people that are up for re-election could lose jobs over this it or no? >> it is a real risk. it's not just grover norquist, it's the club for growth and other entities
during the election it wasn't about big issues. one issue was big and that was raising taxes on wealthy people, and people knew that's what president obama wanted to do. they new mitt romney didn't want to do it and voted for president obama. he has the authority of the election behind him, and that gives him a good hand here. >> david let me ask you about grover norquist. the man who authored the pledge that so many reps signed and mike lee was the latest to say there's a lot of ways to...
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Nov 22, 2012
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was a free election. and the people, they chose hamas. the israeli, they should respect their choice, as a people who are going to represent the palestinian people. if it is a terrorist organization it doesn't mean that all the palestinian people, they are terrorist people, you know? and especially in the last eight days, it was like a bloody war. and my girl, she keeps hearing the sound of bombing. every day, she thinks it is a party. because i put an image in her mind. and -- so i don't know how i can teach her you know, the meaning of life to be a normal kid, to live in a peaceful time, when she is a grown-up, when there is attack every day. >> and when you cut away from the politics and from the military wings, from both political sides, what you're left with are real people living in very difficult situations. and most importantly, the cease-fire holdings and the people who have been responsible for all the rockets, and missiles, get around the table and bring both of you a better life. where you don
was a free election. and the people, they chose hamas. the israeli, they should respect their choice, as a people who are going to represent the palestinian people. if it is a terrorist organization it doesn't mean that all the palestinian people, they are terrorist people, you know? and especially in the last eight days, it was like a bloody war. and my girl, she keeps hearing the sound of bombing. every day, she thinks it is a party. because i put an image in her mind. and -- so i don't know...
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Nov 21, 2012
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is it time to recognize hamas as a force in the area which has to be taken seriously as an elected body and that is the way through to peace? that is the way it's going to have to be? >> a lot has to happen before that. remember what happened with yassir arafat and the plo. arafat had to take profound steps in recognizing israel's right to exist and pledging not to engage in terrorism and hamas has not taken either of those steps. but this is where hillary clinton's role is so important. after four years of basically neglecting the peace process, the obama administration now has in some ways an opportunity to move in and create not just a sense of calm or temporary cease-fire but actually to take the first steps in dealing with israel's security as well as the issue of the blockade of gaza. if she can move through phase one in the cease-fire, phase two, then deal with those immediate concerns, that then opens the way for what everyone is expected since ironically her husband got close to a peace agreement 12 years ago in camp david. everyone knows what the ultimate formula is going to b
is it time to recognize hamas as a force in the area which has to be taken seriously as an elected body and that is the way through to peace? that is the way it's going to have to be? >> a lot has to happen before that. remember what happened with yassir arafat and the plo. arafat had to take profound steps in recognizing israel's right to exist and pledging not to engage in terrorism and hamas has not taken either of those steps. but this is where hillary clinton's role is so important....
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Nov 22, 2012
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. >> it does indeed represent failure of the policy that was put into effect after the january elections where the united states with israel began to impose restrictions on hamas and in june 2007 it is widely believed the united states sort of passively support ed a plan o oust him out of power and they failed. it suspehas survived the isolat and sanctions and we have seen senior arab foreign min sisters and hamas is suddenly out of isolation and main streamed because of the changes with the arab spring. anderson? >> we have seen plenty of cease fires, is there any reason to believe this will be different? it is unlikely that the cease fire will break down completely. the reality to put this in context. israel is the military power, and if the turks think about getting involved, they think they are up against a military power. they spend more money on their defense budget than all of their neighborscombined. they are in a whole different league. that the reality that is a strong deterent to them to get involved. what does this mean about the involvement of iran in the region. it shows th
. >> it does indeed represent failure of the policy that was put into effect after the january elections where the united states with israel began to impose restrictions on hamas and in june 2007 it is widely believed the united states sort of passively support ed a plan o oust him out of power and they failed. it suspehas survived the isolat and sanctions and we have seen senior arab foreign min sisters and hamas is suddenly out of isolation and main streamed because of the changes with...
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Nov 22, 2012
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israel's got an election coming up in two months. we don't know for sure what the outcome of that is going to be. and the arab spring has created a new dynamic in the region. not before experience, which hopefully can be harnessed for the benefit of moving forward in the peace process, but which also could provide some obstacles. so it's the most complicated situation imaginable, anderson. but i think even though we haven't been able to do it in the past, we have to keep trying because it's so important to the people there, to the region, and to the interests of the united states. >> egypt's role is beyond just as a guarantor and a negotiating partner. if -- if israel's confidence in their own security is to be assured, the flow of weapons into gaza has to stop. and egypt would play a critical role in that because it seems like a large number of these rockets, the more sophisticated rockets used in the last year, just in the last couple of days, are being smuggled in these tunnels through egypt. >> that's right. that's not new, ander
israel's got an election coming up in two months. we don't know for sure what the outcome of that is going to be. and the arab spring has created a new dynamic in the region. not before experience, which hopefully can be harnessed for the benefit of moving forward in the peace process, but which also could provide some obstacles. so it's the most complicated situation imaginable, anderson. but i think even though we haven't been able to do it in the past, we have to keep trying because it's so...
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Nov 27, 2012
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>> well, i was just elected as you know, re-elected. and our campaign materials during the campaign spelled out that the only pledge i would be honoring would be the pledge of the oath of office that you make when you're sworn in. that's what my comments meant. i think republicans had shown a willingness to look at revenues as long as we have entitlement reform. i think those are the two ends of the spectrum. and it appears to me that speaker boehner has been shown flexibility in revenues and it appears to me the president has shown flexibility on entitlements. and the point of my op ed this morning was look, it's so much easier for us to go ahead and make these decisions and put them behind us and start the new year with economic growth having dealt with these issues than it is to negotiate some process where we kick the can down the road and deal with this six months from now with a more limited menu and more draconian steps, because we've dug a deeper hole. >> you're talking about capping deductions let's say at 30,000 or $50,000 per
>> well, i was just elected as you know, re-elected. and our campaign materials during the campaign spelled out that the only pledge i would be honoring would be the pledge of the oath of office that you make when you're sworn in. that's what my comments meant. i think republicans had shown a willingness to look at revenues as long as we have entitlement reform. i think those are the two ends of the spectrum. and it appears to me that speaker boehner has been shown flexibility in revenues...
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less than four years away till the next presidential election. thank you both for joining us. >>> 'tis the season is travel. we'll show you ho you the nation's airports and roadways are faring today and what it may mean for the hustle and bustle closer to christmas. >>> i'm dr. sanjay gupta. this week on "the next list" meet max little, a math wiz and innovator with a surprising goal. >> my name's max little. i'm aiming to screen the population for parkinson's disease. >> max little has a bold idea. what if doctors could detect parkinson's disease simply by the sound of your voice? >> ah! >> max little is close to proving just that. he says one simple voice test can determine if someone has parkinson's. all you need is a telephone. >> we've got an ultralow cost way of detecting the disease. >> watch how max little's surprising idea is taking shape. let's say you want to get ahead in your career. how do you get from here... to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by
less than four years away till the next presidential election. thank you both for joining us. >>> 'tis the season is travel. we'll show you ho you the nation's airports and roadways are faring today and what it may mean for the hustle and bustle closer to christmas. >>> i'm dr. sanjay gupta. this week on "the next list" meet max little, a math wiz and innovator with a surprising goal. >> my name's max little. i'm aiming to screen the population for parkinson's...